Which of the Following Is a Specific Governance Responsibility of the Board

question 112

Multiple Choice

Which of the following is a specific governance responsibility of the board of directors of a public corporation?

• A)Managing and reviewing operations.
• B)Approving corporate strategy.
• C)Implementing effective internal controls.
• D)Selecting the external audit firm.

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Definitions:

Non-Controlling Interest

This is an equity interest in a subsidiary not owned by the parent company, which has a claim on the subsidiary's earning and assets.

Business Combination

A transaction or event in which a company acquires control over one or more businesses, often through acquisition or merger.

Share Ownership

The possession and holding of stock in a company by individuals or entities, entitling them to ownership rights and potential profits.

Depreciable Non-current Asset

A long-term asset subject to depreciation, reflecting the asset's consumption, wear and tear, or obsolescence over its useful life.